Congressional Bank Mortgage Rates, Fees & Info
Bethesda, MDLEI: 2549008CZOYIG4FIKS25
Tax ID: 43-2022906
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Congressional Bank is a smaller bank specializing in Home Purchase and Refi loans. Congressional Bank has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Boston, Washington, Baltimore, and Easton among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Congressional Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.32% | 12/29/24 |
| 30 Year Conventional Refi | 6.27% | 12/29/24 |
| 30 Year Cash-out Refi | 6.70% | 12/29/24 |
| 30 Year FHA Purchase | 7.53% | 12/29/24 |
| 30 Year VA Purchase | 5.99% | 12/29/24 |
| 30 Year USDA Purchase | 6.26% | 12/29/24 |
| 15 Year Conventional Purchase | 5.68% | 12/29/24 |
| 15 Year Conventional Refi | 5.81% | 12/29/24 |
| 15 Year Cash-out Refi | 5.81% | 12/29/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Congressional Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Congressional Bank. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
22Origination Dollar Volume (All Markets)
$13,810,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $6,425,000 | $6,425,000 | $0 | 5.38% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $4,450,000 | $556,250 | $0 | 8.07% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 12 | $2,720,000 | $226,667 | $0 | 8.55% |
| Easton, MD (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 9.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Congressional Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 17
Similarity Rank: 55
Similarity Rank: 117
Similarity Rank: 126
Similarity Rank: 156
Similarity Rank: 158
Similarity Rank: 160
Similarity Rank: 168
Similarity Rank: 168
Similarity Rank: 188
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $7,385,000 | $351,667 | $0 | 8.39% |
| FHA | 1 | $6,425,000 | $6,425,000 | $0 | 5.38% |
For 2023, Congressional Bank's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 19 | $5,405,000 | $284,474 | $0 | 8.61% |
| Refi | 3 | $8,405,000 | $2,801,667 | $0 | 5.96% |
For 2023, Congressional Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
For 2023, Congressional Bank's most frequently cited loan duration was 1 Year, with 17 originations. The 2nd most popular length was 5 Year, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 15 | $4,015,000 | $267,667 |
| 7-8% | 4 | $1,390,000 | $347,500 |
| 6-7% | 2 | $1,980,000 | $990,000 |
| 5-6% | 1 | $6,425,000 | $6,425,000 |
During 2023, Congressional Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 15 originations.
Loan Sizing
2023 saw Congressional Bank place emphasis on $200k-400k loans with 14 originations, totaling $3,810,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 22 | $13,810,000 | $627,727 | $0 | 8.25% |
Approval Rates
Total approvals of all applications100.00%
Congressional Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.82%
Congressional Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 22 | $13,810,000 | $627,727 |